A destroyed car and building are seen, as Russia"s invasion of Ukraine continues, in Irpin, near Kyiv, Ukraine.
Bloomberg: Ukraine Sees Rebuild Costing $600 Billion as It Seeks Global Aid
(Bloomberg) -- Rebuilding Ukraine following Russia’s invasion will cost $600 billion, the nation’s prime minister said, calling on members of the International Monetary Fund to donate 10% of their reserve assets received from the institution to support the effort.
In the short term, Ukraine needs $4 billion to $5 billion per month in funding, Denys Shmyhal said at a ministerial roundtable Thursday organized to support the country at the International Monetary Fund and World Bank spring meetings in Washington.
In the longer term, the nation needs a recovery strategy similar to the Marshall Plan for Europe after World War II. Ukraine has been formulating a plan for recovery that includes incorporation in the European Union, Shmyhal said.
He also urged countries to help supply ammunition and weapons to Ukraine and put more sanctions pressure on Russia. Shmyhal said that he’s sent letters to the nation’s partner countries asking them to donate one-tenth of their special drawing rights, known as SDRs, to support Ukraine financially.
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Update #1: Rebuilding Ukraine will cost $600B, says Prime Minister Denys Shmyhal (UPI)
Update #2: Zelensky estimates Ukraine’s financial losses (RT)
WNU Editor: It looks like the Ukraine government is positioning itself to grab all seized Russian funds .... Ukraine hopes to tap frozen Russian state funds to pay for reconstruction (Reuters). The World Bank has a different number .... World Bank: Damages total at least $60 billion in Ukraine (Axios).
The Ukraine government also wants $7 billion in aid every month .... Ukraine War: Country needs $7bn a month in aid, Zelensky says (BBC). This is on top of all the military aid that Ukraine is receiving now.
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